AIKON raises $10m to build tools for Open Rights Exchange

AIKON raises $10m to build tools for Open Rights Exchange

AIKON, a B2B partner building solutions on the Open Rights Exchange (ORE) Network, has raised $10m in its Series A.

The round was led by institutional blockchain investment firm Morgan Creek Digital. Blizzard the Avalanche also joined the Series A round.

Participation also came from Up2 Opportunity Fund, Hestia Investments, and Yugen Partners, as well as follow-on investments from Mighty Capital, Alpha Edison, and Think+ Ventures. All these funds also purchased ORE Tokens in order to take a stake in the ORE Network.

This capital injection will enable AIKON to grow its team and meet rising demand for its services.

In line with the deal, Morgan Creek Capital Management CEO Mark Yusko and Morgan Creek Digital venture partner W. Scott Stornetta will join the AIKON board of directors.

AIKON is a B2B partner that builds solutions on the ORE Network, which is a blockchain that allows developers to build cross-chain solutions and is powered by the utility token, ORE Token.  

The company’s mission is to accelerate blockchain adoption through its multi-chain onboarding solutions. Compatibility with Avalanche, a proof-of-stake chain, will be added for users of ORE ID and ORE Network.

AIKON’s multi-chain authentication and wallet creation solution ORE ID is integrated into businesses and decentralised applications, including AllianceBlock, RFox, NFT Battle Miners, EarnFi and more.

 ORE ID is actively used in 12 countries and the company is on target to grow ORE ID users to 400,000 by the end of 2022.

 Stornetta said, “We are excited to support AIKON not only because they’ve built real-world blockchain solutions that have the potential to onboard millions of users onto blockchains, but also because they built a unique blockchain and crypto platform that put people first in terms of the ease of use.

“Their embedded wallet registry, coupled with the ORE Token, creates a practical path toward truly universal self-sovereign identity. It is personally very gratifying to support a team that is realising the universality of vision we originally had for blockchains.”

In other blockchain news, Binance Labs, the venture capital division of Binance, made a strategic investment into Aptos Labs, a layer-1 blockchain.

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